BSA PHARMACEUTICALS: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
BSA PHARMACEUTICALS
Largest movements
- Cash +€5,889
up €5,889 (+133%), from €4,445 to €10,334
mainly Net result for the year (+€216,428) and Trade debts (+€1,452)
- Profit (loss) carried forward +€216,428
up €216,428 (+52.0%), from -€415,939 to -€199,511
- Advances received -€213,949
no longer reported in 2025 (was €213,949)
- Trade debts +€1,452
up €1,452 (+0.5%), from €294,707 to €296,160
- Gross operating margin +€273,531
up €273,531, from -€31,494 to €242,037
- Financial charges +€38,594
up €38,594 (+4,522%), from €853 to €39,448
- Depreciation -€27,345
no longer reported in 2025 (was €27,345)
- Financial income +€14,133
up €14,133 (+2,008%), from €704 to €14,837
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €112,735 | €117,380 | +€4,645 | +4.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Current assets | 29/58 | €112,735 | €117,380 | +€4,645 | +4.1% |
| Amounts receivable within one year | 40/41 | €108,176 | €107,047 | -€1,129 | -1.0% |
| Trade receivables | 40 | €106,922 | €106,922 | = | 0.0% |
| Other amounts receivable | 41 | €1,254 | €125 | -€1,129 | -90.0% |
| Cash at bank and in hand | 54/58 | €4,445 | €10,334 | +€5,889 | +133% |
| Deferred charges and accrued income | 490/1 | €115 | - | -€115 | |
| Total equity and liabilities | 10/49 | €112,735 | €117,380 | +€4,645 | +4.1% |
| Equity | 10/15 | -€395,939 | -€179,511 | +€216,428 | +54.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€415,939 | -€199,511 | +€216,428 | +52.0% |
| Amounts payable | 17/49 | €508,674 | €296,891 | -€211,783 | -41.6% |
| Amounts payable within one year | 42/48 | €508,674 | €296,891 | -€211,783 | -41.6% |
| Trade debts | 44 | €294,707 | €296,160 | +€1,452 | +0.5% |
| Suppliers | 440/4 | €294,707 | €296,160 | +€1,452 | +0.5% |
| Advances received on contracts in progress | 46 | €213,949 | - | -€213,949 | |
| Other amounts payable | 47/48 | €18 | €732 | +€713 | +3,890% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,345 | - | -€27,345 | |
| Other operating charges | 640/8 | €1,928 | €998 | -€929 | -48.2% |
| Gross operating margin | 9900 | -€31,494 | €242,037 | +€273,531 | |
| Operating profit (loss) | 9901 | -€60,767 | €241,038 | +€301,805 | |
| Financial income | 75/76B | €704 | €14,837 | +€14,133 | +2,008% |
| Recurring financial income | 75 | €704 | €14,837 | +€14,133 | +2,008% |
| Financial charges | 65/66B | €853 | €39,448 | +€38,594 | +4,522% |
| Recurring financial charges | 65 | €853 | €39,448 | +€38,594 | +4,522% |
| Profit (loss) for the period before taxes | 9903 | -€60,916 | €216,428 | +€277,344 | |
| Profit (loss) for the period | 9904 | -€60,916 | €216,428 | +€277,344 | |
| Profit (loss) for the period to be appropriated | 9905 | -€60,916 | €216,428 | +€277,344 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.